Crime Solicitors

A director who fraudulently transferred assets to defeat a Court Order has been banned from holding a directorship for the maximum term of 15 years, after an Insolvency Service investigation.

Paul Edward Fleury, 48 – who lives in Alicante, Spain – had fraudulently transferred the business and assets of one company to a newly incorporated connected company for no payment, in order to defeat the Court Order.

The investigation found that Fleury had been contracted to oversee renovation work on premises belonging to a member of a high net worth family, whom he had previously assisted in several projects.

His role was to check invoices prior to issuing them to the limited company the family used a vehicle for the project.

Mr Fleury used the company Precise Property Services Limited as his vehicle to receive payment for services rendered – the bespoke project was expected to total £25 million for renovating a house in London.

However, the client became suspicious over the sums paid out for work completed and instructed solicitors. Following an investigation, false invoices in excess of £1.5m were found.

As a result, a worldwide Freezing Order was obtained over Mr Fleury’s assets, which included any assets in companies where he had a controlling interest.

However, 13 days after the Freezing Order, Fleury incorporated a new company and transferred all the assets of Precise – which had a value of at least £180,000 – to it for no payment.

Fleury then excluded any reference to the new company in the listing of his financial interests provided to the Court under the order.

Fleury did not comply with the Freezing Order and was found to be in contempt of court, resulting in a custodial sentence totalling nine months. The Freezing Order led to the company being placed in Administration.

Precise Property Services Limited was incorporated on 11 December 2009 and started trading immediately as a provider of building and redevelopment services – the company entered Administration on 3 March 2014.

The Administrator established the company had assets of £227,955 and liabilities totalling £413,687 leading to a deficiency of £190,732.

Chief Investigator at the Insolvency Service, Cheryl Lambert, said: “Quite simply, this was deception – Mr Fleury cannot be trusted to use the privilege of limited liability trading as it was intended, falling far short of the standards of competence and integrity expected.

“Business operates on the basis of trust, backed by a body law should that trust be broken.

“Mr Fleury took it upon himself to organise a scheme to divert assets to defeat a Court Order to protect his own financial interests – his actions strike at the heart of the legal and economic system of this country.

“The maximum period of disqualification available sends a powerful message to all directors – that where they place their interests above that of any others, they will feel the full force of law.”

Duncan Lewis Fraud Lawyers

Duncan Lewis fraud lawyers can offer legal advice at any stage of a charge or allegation involving fraud – including company fraud, financial fraud, investment fraud, property fraud, mortgage fraud, conveyancing fraud, credit card fraud, online fraud or benefit fraud.

There are Duncan Lewis offices nationwide and in most major cities – and a criminal defence lawyer can usually reach a police station for interview under caution within an hour.

Duncan Lewis can also liaise on behalf of clients with investigating authorities such as SFO, FCA, HMRC, BIS, Insolvency Service, DWP or City of London Police.

For expert legal advice on all fraud charges, call Duncan Lewis fraud lawyers on 0333 772 0409.

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